Bank of New York Mellon Corp Sells 251,164 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV)

Bank of New York Mellon Corp reduced its position in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 88.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,573 shares of the company's stock after selling 251,164 shares during the quarter. Bank of New York Mellon Corp's holdings in Clover Health Investments were worth $41,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jaffetilchin Investment Partners LLC boosted its stake in Clover Health Investments by 30.2% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company's stock worth $39,000 after purchasing an additional 11,550 shares during the period. SignalPoint Asset Management LLC boosted its position in shares of Clover Health Investments by 40.3% during the first quarter. SignalPoint Asset Management LLC now owns 139,366 shares of the company's stock worth $111,000 after acquiring an additional 40,000 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Clover Health Investments by 151.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 77,948 shares of the company's stock valued at $62,000 after acquiring an additional 46,912 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Clover Health Investments in the 1st quarter valued at $91,000. Finally, Bayesian Capital Management LP purchased a new stake in Clover Health Investments in the 1st quarter worth $142,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

Clover Health Investments Price Performance

Shares of Clover Health Investments stock traded down $0.05 during trading on Friday, reaching $2.82. 3,214,465 shares of the stock traded hands, compared to its average volume of 7,895,676. Clover Health Investments, Corp. has a 52-week low of $0.61 and a 52-week high of $3.82. The business has a fifty day simple moving average of $2.52 and a two-hundred day simple moving average of $1.51. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -8.29 and a beta of 2.13.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last released its quarterly earnings data on Monday, August 5th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.05. The business had revenue of $356.26 million for the quarter, compared to the consensus estimate of $338.70 million. Clover Health Investments had a negative return on equity of 36.55% and a negative net margin of 7.30%. During the same quarter in the previous year, the company posted ($0.06) EPS. On average, research analysts predict that Clover Health Investments, Corp. will post -0.13 earnings per share for the current fiscal year.

Clover Health Investments Profile

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.